Senate Approves New Iran Sanctions

    WASHINGTON - AUGUST 03:  U.S. Sen. Robert Menendez (D-NJ) speaks about the announcement that the Democratic leadership will not bring energy reform legislation to the floor for a vote before the summer recess at the U.S. Capitol August 3, 2010 in Washington, DC. Senate Majority Leader Harry Reid (D-NV) said that he could not come up with a single Republican vote and therefore could not get the Clean Energy Jobs and Oil Spill Accountability Act passed.  (Photo by Chip Somodevilla/Getty Images) *** Local Caption *** Robert Menendez

    Chip Somodevilla / Getty Images

    The U.S. is ramping up its sanctions on Iran, with the Senate approving Friday new sanctions on trade with the country’s port, shipping, and ship-building sectors. The new package marks the latest move in the Senate’s efforts to put economic pressure on Iran to stop developing its nuclear program. “We must be clear to the Iranians that toughing it out and waiting it out is not an option, that it will only get worse,” Democratic Sen. Robert Menendez said.

    Read it at Reuters